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Offshoring by US companies surges: survey

(AFP) WASHINGTON — US companies are increasingly turning to offshoring their functions to achieve cost savings, and few plan to bring those jobs back to the United States, the Conference Board said Monday.

The number of US companies with a corporate offshoring strategy in place more than doubled in the past three years, according to the fifth annual report on offshoring trends, published by Duke University in collaboration with the Conference Board.

Of the companies surveyed, 53 percent had a corporate offshoring strategy in place, up from 22 percent in 2005, said the Conference Board, a nonprofit business research organization.

"Sixty percent of companies that had already offshored say they have aggressive plans to expand existing activities, and very few plan to relocate activities back to the United States," it said.